In reply to jon:
I can't imagine why a well designed underfloor system would be unsuitable. That said there are many design choices to make which could mean the difference between success and cold toes.
The heat source and the heat delivery can be considered independently. Some heat sources are better suited to UFCH than others but the heat source doesn't dictate the delivery so you could have an air to air heat pump along with UFCH if you wanted.
The response of UFCH is highly dependant on where in the floor the insulating layer sits. Essentially you can have (from the bottom up) concrete, insulation, screed or insulation, concrete, screed. If you put the insulation above the concrete you have a floor with less thermal mass so it will behave more like a radiator, heat up relatively quickly and cool down equally quickly. Insulation at the bottom means the floor will react very slowly but of course also hold its heat for much longer, acting as a stabilising element. (I assume we're talking concrete floors here). Our system, with the insulation above the concrete starts to feel warm in about 20 minutes from cold.
You don't say where you are or what the likely outside average is but bear in mind that air to air heat pumps have a few downsides. For a start they need a sodding big fan to get lots of air moving through the outside exchanger. That fan will inevitably be noisy, maybe not on day one but as it ages it will be noisy. They are also crap once the outside temperature drops too low, essentially they need to drive the outside part's temperature down in order to drive the inside part's temperature up and it's a constant battle for the system to stop condensation on the outside part from freezing.
I have a blown heating system using an air to air exchanger at work and yes, technically it works, it generates a constant room temperature, but I would never have on in a house - it's horrible.
I also have a mixture of radiators and UFCH on concrete and UFCH on suspended wood at home and the UFCH is great. If I were building from scratch it would be UFCH, no question.